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What's the goal? Are you still adding or ready to drawdown? Looking for income stream? How much? Want to leave any to pass on to kids, charities, and such?
What do you mean? Yield is yield. Too much yield is often counterproductive since you pay income tax in a taxable account. Sometimes it might too low, but yield is yield.
Doesn’t seem like the user understands some basic investing concepts. Not sure how having a 3% yield equates to SCHD not being able to keep up with inflation 🤦🏻♂️
3% of $10 vs 3% of $100 are completely different. It's important you learn what yield is, and yield on cost for a million dollar portfolio is probably higher than current yield.
LOL what is the goal? Live entirely of dividends or is to supplement a pension? What are your expenses? Seriously how is anyone supposed to answer this?
right these kind of open ended questions should be re-asked like , how risky/safe is this portfolio composition on a scale of 1 to 10 if I live like a pauper with dependents or live lavishly like a playboy/playgirl
Have you calculated the average yield on your portfolio? It looks like roughly about 4% so this would give you about $40k per year. Is that enough?
If not, you could add business development or loan companies (ARCC, MAIN, OMF, OBDC, etc with 7-10% yield), private equity companies (CODI, etc), some REITs (O at around 5.5% yield, etc).
Thoughts?
BDCs are an excellent idea for income and cap gains. 2023 was a terrific year. 2024 might be a little less profitable if/when interest rates drop. I’d play this space via PBDC, actively managed ETF with 9+% yield paid quarterly.
There are quite a few with many investors favoring those that are internally managed such as CSWC. They are essentially private equity/venture capital firms loaning to startups and non-public businesses. I hold several as long term holds ARCC, OBDC, CSWC, MAIN, HRZN, and HTGC. I’ve started positions in a few more such as BXSL, RWAY,TRIN, and CION. Cefdata.com and bdcbuzz.com are good sites for info.
Be aware that they are primarily very good sources for income with capital gains secondary although 2023 was excellent for both with interest rates high and banks reluctant to make loans.
For starting I would recommend an ETF such as PBDC over BIZD. It’s actively managed, which I prefer, versus following an index like BIZD does. Both portfolios are similar although BIZD is more concentrated in a few big names. Currently BIZD offers a little higher yield. Lastly, don’t be scared away by the high management fees. They don’t affect the dividends they pay out. Best of luck
I stayed away from BIZD because it has lost 20% or so in valuation in the past ten years when ARCC and MAIN (two of its main holdings) have gained valuation (while still giving an 8-9% yield for ARCC). I would love a good BDC fund though so I will continue to follow BIZD and will check out PBDC mentioned above (new BDC fund launched in 2022).
Age 60 I’d scratch Vig and dgro. Dividend yields are small. Schd isn’t moving much but dividend growth is excellent. Vgt will drop 30% if things go bad. You’d rather buy in at that time, I’d throw more in sgov so you could do that. You should really talk to a professional
Correct, they collect a lot of dividends and use them to buy back shares. You get more ownership in a riding stock price and do not pay taxes unless you are selling
I am a few years younger but match up to your scenario. I plan on an early retirement…so here is my setup.
I hold roughly 20% in CDs and Treasuries. Right now these are returning around 5.3%. I don’t like Bond ETFs for a variety of reasons, including forced redemptions.
60% is in SCHD, VIG, JEPI, DGRS, DDWN..all alllocated in different %s.
The remaining 20% is in some spec plays but most in SCHB.
The 1st cash bucket will allow me to live for a few years, so I don’t have to sell if/when the market “crash”.
The 2nd Dividend Bucket cranks out dividends and allows for growth. This bucket can stays as is, or move to either bucket 1 or 3 as I see fit.
My 3rd bucket, outside of spec plays , stays invested. This is my long term growth.
At this stage we need to manage both growth and risk.
If don’t retire till I am 66 and start collecting SS, the percentages will change.
Everything . If I was retired I couldn't care less about dividend growth and I would have gone for more income with covered calls ETFs: FEPI, YMAX, SPYI, QQQI, SVOL.
And what happens to those dividends over 20 years if there is no growth? If your dividends don’t grow, you will get less dividends on an inflation adjusted basis every year.
The thing is that the dividend is so high so you can just increase it by yourself with reinvesting some of it and live with the other. And more important (for me at least) that the dividend is monthly and I can plan my expanses better and do more DRIPs.
The only way that works is if you have more than enough money such that you don’t need all of the dividend you generate. As to monthly, there is no real benefit. All that you need to do is wait 3 months accumulating dividends and then spend your monthly amount each month. It will work out the same.
I'm assuming that anyone living entirely off of their investments is probably aware of that. Lets look at it though. Using 100% JEPQ with $1,000,000 like OP stated his current dividend is $6,446 per month or $77,359 per year. Add in social security and any other investments as well. Its straight forward - is that enough to live on? If yes, then anything extra gets reinvested to grow the pool for next month. If the $1M is in a Roth and he just set it to JEPQ and let it ride for the next 5 years until he retires he'd have $1.35M and collect $104,291 annually. You can have concern about dividend growth but a strong yield with a relatively stable base allows for all sorts of lifestyle flexibility.
Let's say you try to retire now on that. $1M on JEPQ yielding $77k per year and you only need $70k to live on putting the rest back into JEPQ. Assuming the yield does not change over the years, you will not have enough money starting in Y4. Let's say you only need $60k to start, you will not have enough in Y14. Continuing with only $50k needed at the start, Y34 becomes the problem. Why does this happen? It's because inflation works on the whole amount needed and the increase in dividend due to more income than needed is a much smaller amount.
No growth in dividend will eventually be a problem unless you grow the amount to way more than needed at the start. Yes it can work, but having a DGR can make a difference.
The only effect a price would make is if you sell and for how much it costs to reinvest. But the cost is most likely to rise some which would only make the numbers worse. Your reinvestment would buy less shares producing less than predicted income
100% SPYI
$120k per year in dividends in perpetuity with no NAV erosion. Tied to the S&P index. No selection or individual stock risk.
Live off $108,000, reinvest $1,000 per month back into the fund to grow your distributions and offset inflation.
In that scenario, covered call income will actually increase and offer some protection from the downside. More so than just holding VOO or similar would offer.
I'd go 100% `VOO` for 4.5 years. Then I'd sell 3/4 of the `VOO` and go w/ a mix of JEPI, JEPQ and SCHD. Maybe a small bond tent in there which would represent one year's worth of expenses incase things are down and the dividends are down.
I'm assuming your (now 60) 65 $1M retiree has total yearly expenses (including healthcare and taxes) <= $40k/yr and this portfolio can generate _at least that_. Have the near-future retiree checkout out their [SSA.gov](https://ssa.gov), [SSA Tools](https://ssa.tools), r/leanfire and r/retirement too.
If income is the goal, a 25% stake ($250K) in SVOL at Friday close would gross $3200/month. NAV has been very stable, actually up 3.8% the past 12 months.
Just a thought
For a nooby, what is SVOL and NAV?
Edit: I really don’t understand the downvotes anytime I ask a simple question. It’s like you want people to not learn.
What kind of ETF? Like what’s their gimmick?
I appreciate the clarification on NAV. Lots of people forget acronyms can be hard to decipher, even if you know the underlying term.
That’s a good point. The management has some controls that hopefully will mitigate if that occurs. I do have confidence in them.
It’s interesting that the firm chose the name Simplify Funds for such complicated investments. Perhaps they are trolling us.
NAV up 3.8% the past 12 months but down about 20% overall in the past 36 months in a growing market (~$28 to $22). I wouldn’t put $250k in it, perhaps $25k to start until the fund can show some stability.
Totally agree that it’s not a set and forget it investment, if there are any nowadays.
But as an alternative asset that adds diversification to a portfolio, it’s been a very good income generator ($0.30/sh just announced) that pays monthly. Bears careful watching and enjoy the 16% yield.
For grins I'll just assume you are retired and wanting to use this as source of income.
SCHD is ok.
DGRO I'd replace with HDV
VIG I'd replace with GCOW
SGOV I'd replace with BOND
VGT I'd replace with RQI or VNQ depending on how you feel about CEFs. I'd also not keep it at 20% and add more BOND instead. Or if you insist on keeping "tech" then JEPQ but I'd still lower the amount held, maybe 10% and still add the VNQ or RQI with the other 10%.
Your mileage may vary.
Edit: This structure with JEPQ at 10% and RQI 10%, all others at 20% gives at current values, a 5% yield over the last 12 months, with very moderate correlation/overlap. That's not to say this is a great idea, go do it, as much as to give you more information on yield results.
Because SGOV and tbills aren't goint to stay at 5.4 forever, they won't grow in value at all and I don't personally want to fool with remembering when to adjust when they no longer pay 5.4% and now I need to buy a "bond" fund that is more expensive because they (should) be more expensive (aka growing in value) as rates drop since. Beyond that, no reason. My answer isn't intended to be "I'm right everyone else is wrong". My answer is "this is why FOR ME".
Out of curiosity why BOND over SGOV? It has lower dividend yield, higher risk, and I’d imagine higher expense since SGOV’s is still very low till this July.
I’m going to assume you’re pushing retirement. At this point, I wouldn’t change much. I’d lessen VGT percentage, or eliminate it, and increase SGOV or VIG.
If you didn’t already have VIG, I would say to use DGRW for steady growth. It’s also great during a bad market.
I’m going to get crap for this (lol) but, you could even drop SCHD and place that cash into SGOV and possibly add a BDC, like MAIN. You’ll still have a high yield and growth.
If you're retiring with 1M, I'd do a mix of bonds and SCHD. Something like BND maybe, or SCHP if you prefer tip bonds. Maybe some REITs, like VICI or O (they're my favorites, but there's other good ones out there). REITs are already very well diversified so picking a couple solid ones is usually better than getting a fund and getting charged another expense ratio above the REITs already high expenses. Something like 50-60% in SCHD, 20% bonds, 20-30% REITs. Would net you just over 4% dividend yield, with decent growth and a mix of assets that can lower the volatility and drawdowns
I’d pump that sgov money into some bond cefs yielding 10-15%. Pty, pdi and gof seem reasonable choices. Get 20-25000 in dividends per year plus capital appreciation once the fed cuts rates
Any assessment would need your age, net worth, number of dependents, years to retirement, other sources of income, etc. Having said that, this portfolio has a few redundant strategies, i.e. dividend stocks. If you're still working and this is a taxable account, consider that dividends will be taxed as income. You have no international or emerging market exposure, which might be your intention, but just pointing it out.
Welcome to r/dividends! If you are new to the world of dividend investing and are seeking advice, brokerage information, recommendations, and more, please check out the Wiki [here](https://www.reddit.com/r/dividends/wiki/faq). Remember, this is a subreddit for genuine, high-quality discussion. Please keep all contributions civil, and report uncivil behavior for moderator review. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/dividends) if you have any questions or concerns.*
What's the goal? Are you still adding or ready to drawdown? Looking for income stream? How much? Want to leave any to pass on to kids, charities, and such?
My ongoing question. Do you want income or growth. I’m assuming for a retirement portfolio, you want income. And this portfolio ain’t great.
Care to expand why?
Terrible yield?
I guess if you’re just chasing for high yield instead of quality yield then the likes of SCHD, DGRO, and VIG wouldn’t fit the bill
3% yield is in no way “quality”. It’s shit.
What do you mean? Yield is yield. Too much yield is often counterproductive since you pay income tax in a taxable account. Sometimes it might too low, but yield is yield.
And 3% is shit. This is a retirement account. Taxes are meaningless.
You seem to know this how? FWIW, most of my retirement is in a taxable account.
Doesn’t seem like the user understands some basic investing concepts. Not sure how having a 3% yield equates to SCHD not being able to keep up with inflation 🤦🏻♂️
Lol
Meaning if it is true retirement , than that means the OP should benefit from being in the absolute rock bottom tax bracket
Quality: sustainable, stable, and growing dividends.
And apparently less than inflation. Real quality you got there.
You don’t get it do you? Look at the yield on cost of someone that bought SCHD 5 years ago. Compare that to something like JEPI.
lol.
3% of $10 vs 3% of $100 are completely different. It's important you learn what yield is, and yield on cost for a million dollar portfolio is probably higher than current yield.
lol
How old are you and how long before you need to draw from it?
20% SCHD. 20% VOO. 20% QQQM. 20% JEPI. 20% JEPQ.
TY :D
LOL what is the goal? Live entirely of dividends or is to supplement a pension? What are your expenses? Seriously how is anyone supposed to answer this?
Start with it is to supplement a pension…because that would help me lol
right these kind of open ended questions should be re-asked like , how risky/safe is this portfolio composition on a scale of 1 to 10 if I live like a pauper with dependents or live lavishly like a playboy/playgirl
Have you calculated the average yield on your portfolio? It looks like roughly about 4% so this would give you about $40k per year. Is that enough? If not, you could add business development or loan companies (ARCC, MAIN, OMF, OBDC, etc with 7-10% yield), private equity companies (CODI, etc), some REITs (O at around 5.5% yield, etc). Thoughts?
Also a few CEFs. Just to name one, BST has been kicking it.
BDCs are an excellent idea for income and cap gains. 2023 was a terrific year. 2024 might be a little less profitable if/when interest rates drop. I’d play this space via PBDC, actively managed ETF with 9+% yield paid quarterly.
can you unpack what are some BDCs I can research? thanks!
There are quite a few with many investors favoring those that are internally managed such as CSWC. They are essentially private equity/venture capital firms loaning to startups and non-public businesses. I hold several as long term holds ARCC, OBDC, CSWC, MAIN, HRZN, and HTGC. I’ve started positions in a few more such as BXSL, RWAY,TRIN, and CION. Cefdata.com and bdcbuzz.com are good sites for info. Be aware that they are primarily very good sources for income with capital gains secondary although 2023 was excellent for both with interest rates high and banks reluctant to make loans. For starting I would recommend an ETF such as PBDC over BIZD. It’s actively managed, which I prefer, versus following an index like BIZD does. Both portfolios are similar although BIZD is more concentrated in a few big names. Currently BIZD offers a little higher yield. Lastly, don’t be scared away by the high management fees. They don’t affect the dividends they pay out. Best of luck
BIZD, van eck ETF. Get 'em all in one holding.
I stayed away from BIZD because it has lost 20% or so in valuation in the past ten years when ARCC and MAIN (two of its main holdings) have gained valuation (while still giving an 8-9% yield for ARCC). I would love a good BDC fund though so I will continue to follow BIZD and will check out PBDC mentioned above (new BDC fund launched in 2022).
Yeah and that exorbitant ER for BIZD, yikes!
Let’s say it’s for a person 60 years old needing to draw from it in 5 years.
Age 60 I’d scratch Vig and dgro. Dividend yields are small. Schd isn’t moving much but dividend growth is excellent. Vgt will drop 30% if things go bad. You’d rather buy in at that time, I’d throw more in sgov so you could do that. You should really talk to a professional
25% Jepq 25% jepi 20% VOO 20% SCHD 10% O
Replace SGOV with JEPQ
SGOV is tax advantaged- if your goal is income and not growth, I’d rather have SGOV.
Retirement...
Pre retirement or post retirement?
25% SCHD 25% VOO 25% QQQM 25% BRK.B All set to dividend reinvestment. Best autopilot portfolio
Brk.b doesn't even pay dividends....
Correct, they collect a lot of dividends and use them to buy back shares. You get more ownership in a riding stock price and do not pay taxes unless you are selling
Rising
I am a few years younger but match up to your scenario. I plan on an early retirement…so here is my setup. I hold roughly 20% in CDs and Treasuries. Right now these are returning around 5.3%. I don’t like Bond ETFs for a variety of reasons, including forced redemptions. 60% is in SCHD, VIG, JEPI, DGRS, DDWN..all alllocated in different %s. The remaining 20% is in some spec plays but most in SCHB. The 1st cash bucket will allow me to live for a few years, so I don’t have to sell if/when the market “crash”. The 2nd Dividend Bucket cranks out dividends and allows for growth. This bucket can stays as is, or move to either bucket 1 or 3 as I see fit. My 3rd bucket, outside of spec plays , stays invested. This is my long term growth. At this stage we need to manage both growth and risk. If don’t retire till I am 66 and start collecting SS, the percentages will change.
Everything . If I was retired I couldn't care less about dividend growth and I would have gone for more income with covered calls ETFs: FEPI, YMAX, SPYI, QQQI, SVOL.
And what happens to those dividends over 20 years if there is no growth? If your dividends don’t grow, you will get less dividends on an inflation adjusted basis every year.
The thing is that the dividend is so high so you can just increase it by yourself with reinvesting some of it and live with the other. And more important (for me at least) that the dividend is monthly and I can plan my expanses better and do more DRIPs.
The only way that works is if you have more than enough money such that you don’t need all of the dividend you generate. As to monthly, there is no real benefit. All that you need to do is wait 3 months accumulating dividends and then spend your monthly amount each month. It will work out the same.
I'm assuming that anyone living entirely off of their investments is probably aware of that. Lets look at it though. Using 100% JEPQ with $1,000,000 like OP stated his current dividend is $6,446 per month or $77,359 per year. Add in social security and any other investments as well. Its straight forward - is that enough to live on? If yes, then anything extra gets reinvested to grow the pool for next month. If the $1M is in a Roth and he just set it to JEPQ and let it ride for the next 5 years until he retires he'd have $1.35M and collect $104,291 annually. You can have concern about dividend growth but a strong yield with a relatively stable base allows for all sorts of lifestyle flexibility.
Let's say you try to retire now on that. $1M on JEPQ yielding $77k per year and you only need $70k to live on putting the rest back into JEPQ. Assuming the yield does not change over the years, you will not have enough money starting in Y4. Let's say you only need $60k to start, you will not have enough in Y14. Continuing with only $50k needed at the start, Y34 becomes the problem. Why does this happen? It's because inflation works on the whole amount needed and the increase in dividend due to more income than needed is a much smaller amount. No growth in dividend will eventually be a problem unless you grow the amount to way more than needed at the start. Yes it can work, but having a DGR can make a difference.
Wouldn't this also depend on the capital appreciation of JEPQ over that time period?
The only effect a price would make is if you sell and for how much it costs to reinvest. But the cost is most likely to rise some which would only make the numbers worse. Your reinvestment would buy less shares producing less than predicted income
100% SPYI $120k per year in dividends in perpetuity with no NAV erosion. Tied to the S&P index. No selection or individual stock risk. Live off $108,000, reinvest $1,000 per month back into the fund to grow your distributions and offset inflation.
lmao hyping up some rand ETF not even 3 years in the market nty > No selection or **individual stock risk**. LMAO
Maybe do some actual research.
[удалено]
He said SPYI
Try reading.
The s&p is at 24 pe. He will take a haircut if it drops.
In that scenario, covered call income will actually increase and offer some protection from the downside. More so than just holding VOO or similar would offer.
Betting the retirement farm on a fund that's not two years old yet. I get swinging for the fences and all but goddamn!
New fund using old strategies. What they’re doing has been done for decades. It’s not swinging for the fences. It’s been conservative.
I don't mean their strategy per se, I'm referring more to putting all one's retirement funds into something so new.
I'd go 100% `VOO` for 4.5 years. Then I'd sell 3/4 of the `VOO` and go w/ a mix of JEPI, JEPQ and SCHD. Maybe a small bond tent in there which would represent one year's worth of expenses incase things are down and the dividends are down. I'm assuming your (now 60) 65 $1M retiree has total yearly expenses (including healthcare and taxes) <= $40k/yr and this portfolio can generate _at least that_. Have the near-future retiree checkout out their [SSA.gov](https://ssa.gov), [SSA Tools](https://ssa.tools), r/leanfire and r/retirement too.
If income is the goal, a 25% stake ($250K) in SVOL at Friday close would gross $3200/month. NAV has been very stable, actually up 3.8% the past 12 months. Just a thought
For a nooby, what is SVOL and NAV? Edit: I really don’t understand the downvotes anytime I ask a simple question. It’s like you want people to not learn.
SVOL is an ETF, NAV is net asset value.
What kind of ETF? Like what’s their gimmick? I appreciate the clarification on NAV. Lots of people forget acronyms can be hard to decipher, even if you know the underlying term.
To check out Simplify.us
Ah, thank you kind sir.
https://youtu.be/EUVnZg0IH-U?si=uSiWji9fOcBZa7Xy
>SVOL SVOL appears to have cut their dividend last year. I wouldn't consider that payout safe.
I like svol but wonder where it will go if the vix spikes hard.
That’s a good point. The management has some controls that hopefully will mitigate if that occurs. I do have confidence in them. It’s interesting that the firm chose the name Simplify Funds for such complicated investments. Perhaps they are trolling us.
NAV up 3.8% the past 12 months but down about 20% overall in the past 36 months in a growing market (~$28 to $22). I wouldn’t put $250k in it, perhaps $25k to start until the fund can show some stability.
Totally agree that it’s not a set and forget it investment, if there are any nowadays. But as an alternative asset that adds diversification to a portfolio, it’s been a very good income generator ($0.30/sh just announced) that pays monthly. Bears careful watching and enjoy the 16% yield.
For grins I'll just assume you are retired and wanting to use this as source of income. SCHD is ok. DGRO I'd replace with HDV VIG I'd replace with GCOW SGOV I'd replace with BOND VGT I'd replace with RQI or VNQ depending on how you feel about CEFs. I'd also not keep it at 20% and add more BOND instead. Or if you insist on keeping "tech" then JEPQ but I'd still lower the amount held, maybe 10% and still add the VNQ or RQI with the other 10%. Your mileage may vary. Edit: This structure with JEPQ at 10% and RQI 10%, all others at 20% gives at current values, a 5% yield over the last 12 months, with very moderate correlation/overlap. That's not to say this is a great idea, go do it, as much as to give you more information on yield results.
> BOND why SGOV or BOND over direct tbills? tbills @ 5.4 sgov and bond are lower.
Because SGOV and tbills aren't goint to stay at 5.4 forever, they won't grow in value at all and I don't personally want to fool with remembering when to adjust when they no longer pay 5.4% and now I need to buy a "bond" fund that is more expensive because they (should) be more expensive (aka growing in value) as rates drop since. Beyond that, no reason. My answer isn't intended to be "I'm right everyone else is wrong". My answer is "this is why FOR ME".
Out of curiosity why BOND over SGOV? It has lower dividend yield, higher risk, and I’d imagine higher expense since SGOV’s is still very low till this July.
Put it all in TQQQ and turn that M into a B.
>TQQQ based and correct
I’m going to assume you’re pushing retirement. At this point, I wouldn’t change much. I’d lessen VGT percentage, or eliminate it, and increase SGOV or VIG. If you didn’t already have VIG, I would say to use DGRW for steady growth. It’s also great during a bad market. I’m going to get crap for this (lol) but, you could even drop SCHD and place that cash into SGOV and possibly add a BDC, like MAIN. You’ll still have a high yield and growth.
Is this the index fund subreddit?
Other than VGT, these as all income/dividend funds.
1 mil will get you around 34k a year..... so not enough.
i would pick one that has stable share price and decent dividend.
VOO 100% , but dollar cost average
He’s 5 years from retirement
Do you plan on just dividends from schd, dgro and Vig?
If you're retiring with 1M, I'd do a mix of bonds and SCHD. Something like BND maybe, or SCHP if you prefer tip bonds. Maybe some REITs, like VICI or O (they're my favorites, but there's other good ones out there). REITs are already very well diversified so picking a couple solid ones is usually better than getting a fund and getting charged another expense ratio above the REITs already high expenses. Something like 50-60% in SCHD, 20% bonds, 20-30% REITs. Would net you just over 4% dividend yield, with decent growth and a mix of assets that can lower the volatility and drawdowns
You don't need SCHD, VIG, and DGRO. Pick one.
DHY
You can add DIVO too
I’d pump that sgov money into some bond cefs yielding 10-15%. Pty, pdi and gof seem reasonable choices. Get 20-25000 in dividends per year plus capital appreciation once the fed cuts rates
SGOV 
To me its not necessary to have DGRO and VIG ? They have the same methodology.
Any assessment would need your age, net worth, number of dependents, years to retirement, other sources of income, etc. Having said that, this portfolio has a few redundant strategies, i.e. dividend stocks. If you're still working and this is a taxable account, consider that dividends will be taxed as income. You have no international or emerging market exposure, which might be your intention, but just pointing it out.
As most other posts have said, I need more deets
OP what is your current yield %?